Standard Chartered Ethics

In: Business and Management

Submitted By awedhec
Words 884
Pages 4
Standard Chartered Corporate Values
EDHEC Business School Ethics & Corporate Governance 2013-2014

March 12, 2014

Introduction
Standard Chartered (SC) is based in London, present in 70 countries globally

SC lists 5 core values; they seek to be:

   

Courageous Responsive International Creative

 Trustworthy
These are admirable, yet ambiguous goals – difficult to quantify or qualify

Focus on three specific aspects of SC stated responsible sustainability

 Corporate Governance  Financial Crime Prevention  People & Values
2

Corporate Governance: “Here for Good” brand promise
Environmental, social and governance responsibilities

Brand and Values Committee (BVC) reviews the group’s sustainable business priorities

 Responses to issues arising from environment and climate change through their Environment and
Climate Change Policy (ECCp)

 Overseeing of the group’s development of public commitments regarding activities to encourage, for
“good brand promise”. Group acts in various positions, mainly: Money-laundering prevention, Community investment and HIV and AIDS policies

The Group Risk Committee (GRC) informs the BVC on matters relating to reputational risk

 Employees are themselves responsible for day-to-day identification and management of reputational risk  Quarterly reviews of risks and reporting carried out a t every level of the Group (country, regional, Head)
SC acts in accordance to official guidelines to be respected

 Association of British Insurers  Equator Principles (Project Finance and Project Advisory)
3

Corporate Governance: risk governance
Internal audit and controls Framework of the risk management culture  Balancing Risk and return – Risk appetite


    

Responsibility – Employees / Risk Control Owners / Group Internal Audit (GIA)
Accountability – Compliance…...

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